While most of traders’ ideas go SHORT on USD/JPY. I have different point of view.
I am waiting for a breakout for this ascending triangle pattern, and the target could reach supply zone (in pink)
Ichimoku analysis tells us that the current price reaches a danger resistance level. With most of the circumstances like chikou span, tenkan-sen, kumo telling us the USD/JPY still rising well, we should trade safe atm.
I am waiting for a breakout for this ascending triangle pattern, and the target could reach supply zone (in pink)
Ichimoku analysis tells us that the current price reaches a danger resistance level. With most of the circumstances like chikou span, tenkan-sen, kumo telling us the USD/JPY still rising well, we should trade safe atm.
Comment:
USD/JPY hit 112.80 and got beaten by the red cloud in January. We will see if there is an inverted hammer formed the end of today. Then prepare to protect the profit.